i think lies in the cultural differences it lies in the lack of a unified institutional framework for banking and financial decision making but have has the problems with the euro now magnified the cultural differences and the problems in countries cultural differences as well unfortunately when you have an economic crisis and national politicians try and find a solution it's always tempting to try and find a solution that respects the cultural differences because those are often the strongest feelings that people have in a crisis there are two ways to go with regard to the current euro crisis one is to build institutions for a european banking supervisor and a european financial ministration and european leaders are working on these the other direction to go is to emphasize the differences among european countries and try and tailor the way the euro functions to respond to those differences.

there will be some of that because we're seeing deals with spain and with greece we saw deals with ireland and portugal all of that does respond to those feelings of cultural difference but i think in the long run the whole goal of the euro is to minimize the impact of those cultural differences on people's standard of living and on their financial environment a couple of quick questions arise right away talking a little bit more on cultural differences yes we see different european leaders work on a common solution to save the game or to save the unity of the european union but still it seems so heart to find an agreement is specially if we see how germany's reacting to greece and how the u.k. is opposing the financial policies for example so is it a lack of trust or is it yet once again the cultural differences that really come in the way. there at finding the common solution there are cultural differences but

they're not just european national differences if that was the only issue then the united states as one nation would be able to solve its policy problems by agreeing on a solution as you know the united states right now is very divided between republicans and democrats who have different ideas about how to solve our economic problems and so very little is getting done in europe germans have a belief that the way to solve the problems is by more saving and more fiscal discipline the southern european countries believe the way to go forward is to promote economic growth and not worry so much at this moment about the debt those differences are very similar to those between american democrats and american republicans well from the latest of french president francois hollande has sat that europe must advance at several speeds so some believe that we would be seeing the

inevitable the emergence of a two tariq europe i think there is a possibility i've written about that myself at the moment the levels of productivity in different european countries are large one can compensate for that with a unified set of financial structures but then that will take time for those structures to overcome the differences the instant way to say ok we have differences in productivity let's have a marked difference in the financial system for different countries and that would require splitting the euro whether it's a two tier system or a different access system or even perhaps in some extreme cases a return to national currencies i don't you've been bringing up the united states a lot we are going to have presidential we are going to have presidential election in the us and yes we are. domestic economy very much in focus at this point and i.

although the united states economy is exposed to europe when you look at it willie hasn't taken a toll on it as much as one would expect why is that they don't obama just get plain lucky well i don't want to argue about whether obama is lucky or not there's a lot of evidence that he is unlucky and there is a lot of evidence that he has good luck we'll find out which is true when the election actually occurs but as regards the american economy the obama administration spent a lot of money on stimulus indeed if you look at net spending in the united states it has been much stronger since the onset of the recession in two thousand and seven than in most european countries european countries have been living according to their belief in austerity so they have reduced government spending and they have raised taxes the united states was not able to raise taxes and did increase government spending now there is an argument about which is the best approach to

restore growth i really believe what the american experience shows is that you shouldn't raise taxes during a recession you should increase government spending and the reason european countries have had greater trouble is they have done what i think shouldn't be done they followed a austerity policy before the recession was over i remember president obama got a great deal of criticism in the very beginning when he actually went for the stimulus packages and for the injection of stimulus and to the american economy but then again and it worked out like you said it worked out better than it did in europe but then again can the measures that are taken to. fix the american economy be taken into europe can going to say measures fix here as well or you do you do need to have different approaches because it is two different things still there are different things europe essentially has a double problem they have how do we get southern. european and northern european

economies to move in the same direction and for that i think the answer is don't pursue austerity pursue growth and then there's a second problem of once countries are all moving in the same direction can you fix the european financial system and create united structures so that this problem doesn't appear again as it may appear in the next economic difficulty if the current division among national financial systems isn't isn't fixed as the author of the over book on global population trends you have argued that the most important thing is really that distribution of population now that the rich economies are really out of steam and the global economic crisis god knows how long it will stay around while these sit com is actually capable of absorbing. even the scores of immigrants as they were for the last century well i think there's

a third adjustment that europe has to make aside from responding to the existing crisis and improving the unity of financial structure and that is europe has to adjust to the reality of zero population growth. europe after all was the fastest growing part of the world for much of the nineteenth century and even into the twentieth century and yet we're looking at a twenty first century in which most european countries will have very little or no population growth that means the structure of welfare health care pensions housing all these going to have to change now i am seeing very hopeful signs in many european countries that they recognize becoming more open to immigration and doing a better job of integrating the recent immigrants that they already have are going to be very important for restoring economic growth so i don't think there's a choice there i just think it's

a question of how soon does europe accept the reality that its population needs to be supported by immigration and that that's going to provide more of a benefit not a threat keeping in mind everything that you've sat and if everything goes by your scenario. and america's still today being the best places on earth to leave according to living standards. will they be america and europe be able to sustain their living standards like they are today i think they'll be able to sustain them to a good degree because they have the technology and the capital but it will take sensible economic policies if europe and the us continue to spend way too much on public benefits like pensions and don't pay enough attention to research and education to raise the productivity of future workers then things will decline so there is the risk that we got it wrong on the other hand there's no reason that

european and american people and companies won't profit from the growth that takes place in places like china and india it's already a global economy so i think the prospects are good but let me also. even though places like shanghai or mo by may not be as rich as london or paris they have their own attractions being at the center of something new and exciting and growing fast can we just as attractive as being in a place like zurich that has a lot of old but stable well jack goldstone thank you very much worse interview a pleasure to be here thank you very much. looking at some jokes you simply do not believe they come speak and goodness how they can wrong oh. it's an international sled dog race with

those driving the dogs. coming from as far away as a strand in canada and the us they come to russia and everybody is so very friendly they welcomed me with open arms and the scenery is so beautiful it's very much like alaska and so i felt at home the first black dog was brought here from australia now a straight out come to this remote russian village to take part in the race it's not surprising they love it this trail are amazing but even more amazing is the story of how racing first started here atoll it wasn't the top. grazing who set the trail ablaze but a nun and for all friends who brought their dia to life. five years ago for a scare of a bill to dog kennel in the village kids from the local open age came around to take care of the dogs and one day they state their life might seem extreme to some

the boys wake up at six to feed the dogs before school in the evening they spend up to three hours training their full legged friends but smother her scare also encourages her kids to become depth hands on the computer and internet the boys regularly updates their websites and they're in touch with the busy ma the twenty four seven on the phone itself but children are the most important thing my only interests not play any role anymore and regardless of whether parsky has huskies win the race or not she hopes the competition will take place in the village next year. but called these dogs and the children it really is not the winning but truly just the taking part that counts. magine assets that the phone watches show every single day.

and waiting for you to stumble. i saw a man with a video camera so i moved over and he followed me. here we realized they were following everyone from early in the morning. the only chance to get rid of him. is to reveal him. me devil operation on archie. secret lover jury was able to build the new.

tunes mission to teach the creation why it should. end. this is why you should care only. fifteen goats two counts. forty kilograms of rice one thousand flatbreads. but why is the bride in a bad mood. now to tell the group that. it is a done deal. download the official. language stream quality and enjoy your favorites such. a quiet to watch ots his.

time. what will change when america picks its president muslim rage working the. pushing china and russia as occupy anger spreads to parties still dictate will there be change this election. every day two hundred fifty on our city.

top stories this hour an r.t.s. billions in corporate donations make the u.s. presidential campaign the most expensive ever some americans believe who ever they elect wall street will be the winner. russia's foreign minister hits out of international powers for refusing to negotiate with all sides in the syrian conflict saying talking to us sad is the only way to stop the bloodshed. and not in my backyard plans to build among the mega mosque of protests is worried that the islamic group developing it is a means to radicalize local muslims. or no stories for in fifteen minutes from now in the meantime sport is next with kate.

so welcome to the latest poll this monday and these are all the top stories. referee reported the english f.a. begin an investigation on patrols the lodge an official complaint against the referee in sunday's three two defeat against manchester united. while top gun you know messy is awarded his second golden boot in three years after scoring fifty goals for barcelona last season. and giant step san francisco when baseball's world series for the second time in three years with a four nil sweep of the detroit tigers. the first football of the english f.a. have begun an investigation after chelsea complained referee mark clattenburg used inappropriate language to two of their players during sunday's controversial three two defeat at home to manchester united the players reportedly thought contained racial overtones well the blues had come back from two goals down to be level two two and then after an hour branislav advantage was sent off for breaking down

actually young and soon after another tourist picked up the second yellow card supposed to keep diving then was fifteen minutes to go to substitute obviate and underscored united's winner although he appeared to be offside to see united go second in the table one point behind chelsea. but elsewhere poppy season is last minutes trying to newcastle a two one win over west brom tottenham went forth with a two one win at second bottom sometimes in front of us and came back from two goals down to draw two two with liverpool in the merseyside darby with red striker luis suarez having a last minute window ruled out for offside. so wonderful for should have. we should have the gist of these he's gone and it will sort of deserve to be in a brilliant win for us instead we're frustrated by the same time i'm very proud to look at my young team today in a real cauldron of an atmosphere and who stood up to everything against a very very experienced team and it was another terrific straightforward force. for

me while elsewhere argentina striker leo messi has been awarded his second golden boot in three years for scoring the mostly goals in europe last season the twenty five year old boss alone a front man set a new legal record of fifty goals for more than realm of rival christiane are now they picked up the prize last year those are among the favorites to also list the first bell on door for the best player of the year. and of the meantime tesco coach let it slip ski praised his team's second half performance after the army men went top of the russian premier league after coming from behind two into one turk brazilian elson good to the chechen side ahead after beating keeper he got back in a fair to the new post just eight minutes in that case ikey honda volleyed in a cross by you'll be sure nick off to level matters between two the first half and with just two minutes to go partisan then bloom headed home to finish off a free kick by fellow swede rasmussen is the army man with a point clear at the top while to record stay for us. well meanwhile he dropped to

second and saw their seven game winning streak come to an abrupt end after a two one defeat to rubin the home side to a fourth minute lead to his mean but swiftly equalized courtesy of top scorer at the scene a try or eight as the gentle giant nicked the seventh goal of the campaign however . made it to want to be with a cracker from just outside the box after twenty minutes and that is how it stayed as an outside race to sevenths. quality early kick off the nama leapfrog opponents earlier settle into eleven's after a one zero win in a rain. match just outside moscow russia striker alexander coroneted the winner after thirteen minutes kevin gorani was the provider to number have now won four out of the last five matches to shrug off a disastrous start to season. tennis and serena williams powered a way past maria sharapova to win the season ending w t

a championship for the third time without dropping a set in a stumble williams didn't face a single breakpoint smacking forty winners and eleven aces on her way to a six six three victory we're going to lose an impressive second half of the season for the world number three after losing in the first round at the french open williams went on to win wimbledon then olympic gold and then the u.s. open and she finishes the year behind sharapova as world number three after dropping out of the top one hundred and overcoming life threatening blood clot in her lungs last season. who is important you know this is another step in my career . stuff so like that's what i wanted to do it was his money you know she certainly played a really consistent today and served really wouldn't get a chance to see a great point today. overall it was a few you know little moments where it could have you know found myself back in the match and and then she served extremely well and took those opportunities away but

overall it's been a great week for me and meantime on martin del potro is the man of the moment on the men's tour after last week's victory in vienna the argentinian became world number one roger federer in a three set thriller to claim the swiss indoors title in the fall federal was hoping to win his home event for a sixth time in seven years and has broken just once in the opening set but still lost six four six seven seven six to the world number eight after almost three hours on court. back to baseball and the san francisco giants clinched their second world series title in three years as they won four three at the detroit. tiger's to complete a formal sweep in the best of seven series the two teams were tied at three apiece at the end of the regulation nine innings but it was the giants who clinched the winnings for any extra tends ryan three zero hit a single to right field advance to second base on the ground and put that sacrifice in racing home on that single by marco scutaro to make it four three to the giants

and then the closing which is so here romo took to the man who struck out miguel cabrera to seal the victory and the club's sevens all time won't see reese crown. you know for us to play like we did against this great club but i couldn't be prouder of these guys and you know to be world champions and to have out of the last three years it's amazing i believe me i know it difficult because you get here and i could be prouder of a group of guys that we're not. going to be denied and. now rory mcilroy has avenged his recent world golf final defeat to tiger woods after the world number one beat the second ranked american by a single shot in an exhibition jewel in china the world's top two players look pones over eighteen holes with people who were probably in the better form after coming up just short of the shanghai lost his title on sunday as the northern irishman led by three shots off the two birdies on the at nine three holes on the twenty three year old never try old but off to being greeted by

a model on the twelfth she woods chipped in for an important birdie but a couple of pokies later on during the day for the fourteen time major winner as was needed to hold out for a full body from the bunker on the final hole but just missed and mcelroy tapped in for paul to secure a five under par round of sixty seven we're going to point five zero and go that. tiger made a few birds on the back nine and i just tried to keep my nose or trying things you know as it was it yeah it was a great exhibition i think everyone here enjoyed it and you know their want to came out and hopefully they had a bunch of fun watching us you know play you know some pretty good golf today. and finally win series only just beginning here in russia but an unusual side voting competition was held this weekend at an all season alpine skiing venue in the moscow region comes to the top off as more. russia is

a country covered with snow for almost half the year but you can also find many snowboard infuses here during the all the hot and these indoor alpine skiing venue was recently the place for it being contests where competitors tickle their is obstacle. course on a snowboard addicts the broad spectrum of around here when say is not a nightmare but a dream come true and here their dream becomes a reality as this is their dells can hold their tricks on the verge of a shoulder slope three hundred sixty five days a year. however for a new man such as a jeep competition a relatively small amount of snow is required as snowboarders gain speed on a slope and like an old skateboarding influenced boards jump and slide all with different barriers and before uncomplicated tricks. the beauty of the start but it

sound now i'm almost every amateur dreams of becoming a pro the price of snowboarding equipment for the whole year is up for grabs here and after that cheer if a snowboarder is good enough he will sign a professional contract their own the hundred amateur boarders gathered to battle for that top prize and showed off their best breathtaking and jaw dropping tricks on the rail to impress the judges. that i didn't expect to win but i'm happy i did hopefully during this year i'll produce my best and sign a pro contract it's hard to earn money in snowboarding in this country but if you perform on a solid level you can get a contract elsewhere there are still only a few professional still borders in russia but such events could. perhaps help inspire youngsters to turn a hobby into a living. i'm sending both of our team. that as well as both these i think.

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